~ The Bank has been appointed as a Sub Agent by Xpress Money’s Principal Agent – Muthoot Forex Ltd. ~

Dubai- UAE, May, 2015 – Xpress Money, one of the world’s most dependable money transfer brands, has announced a strategic tie-up with Kerala Gramin Bank (KGB); this partnership is facilitated by Muthoot Forex Ltd., Xpress Money’s Principal Agent, that has appointed KGB as a Sub Agent, to offer Xpress Money’s superior remittance services in the state. Kerala Gramin Bank is India’s largest Regional Rural Bank and this association adds 542 agent locations to Xpress Money’s existing network in Kerala.

This alliance will provide customers, access to Xpress Money’s services across 542 branches of KGB, located in key remittance pockets, namely Alpuzha, Ernakulam, Idukki, Kannur, Kasargod, Kollam, Kottayam, Kozhikode, Malappuram, Palakkad, Parthanamthitta, Thiruvanthapuram, Thrissur and Wayanad. With the addition of KGB’s network, Xpress Money’s services are now available at over 8500 agent locations across the state.

Mr. Sudhesh Giriyan, COO, Xpress Money, said, “It is our endeavor to reach out to customers at the grassroot level, to ensure that they have access to formal channels of remittance. As a brand, we aim to bring financial inclusion to as many customers that we can reach out to. This relationship with Kerala Gramin Bank is a step further in that direction. We are happy to be partnering with such a renowned bank and look forward to a long and fruitful partnership.”

Talking about this partnership, Mr. George Alexander Muthoot, MD, Muthoot Group said “We are very happy that this association with KGB will help us to reach out to the rural population. This will be an effective step also, to bring the rural people under the Financial Inclusion Plan of our Hon. Prime Minister. With the reach and spread KGB and Muthoot Group has, customers will be serviced closer to their home”

Xpress Money aims to further reach out to their local consumers through grass root activities and provide them easy access to their locations and tie up with few more co-operative banks.